Rain Ltd. (NASDAQ:Erin) among Best short squeeze stocks to buy now. On November 19, Citizens initiated coverage of IREN Limited (NASDAQ:IREN) with a price target of $80 and a market outperform rating. The company emphasized IREN’s strategic shift from Bitcoin mining to providing services in the high-performance computing (HPC) segment of the AI industry, highlighting the company’s “different approach with a large power supply.”
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This comes after IREN Limited (NASDAQ:IREN) and Microsoft signed a $9.7 billion deal. Under the agreement, Microsoft will use IREN’s data center capacity, largely located at the 750-megawatt Childress, Texas, facility, to expand its AI cloud services. As part of the contract, Microsoft will make a 20% upfront payment, and IREN Limited (NASDAQ:IREN) will purchase approximately $5.8 billion worth of Dell GPUs and hardware to meet the rollout.
Citizens noted that although the GPUaaS model offers faster returns and greater returns than traditional leasing, it “is also likely to become more competitive over time.”
IREN Limited (NASDAQ:IREN), a Bitcoin mining and AI data center company across North America, provides high-performance computing infrastructure and GPU-based cloud services to enterprises and enterprise customers.
While we recognize IREN’s potential as an investment, we believe some AI stocks offer greater upside potential and carry less downside risk. If you’re looking for undervalued AI stocks that will also benefit significantly from the Trump-era tariffs and the reshoring trend, check out our free report on Best AI stocks for short term.
Read next: Top 10 Magic Formula Stocks for 2025 and The 10 Best Retirement Stocks to Buy According to Hedge Funds.
Disclosure: None. This article was originally published on The monkey inside.
